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|February 28, 2019, City Council Regular Meeting|
26. Motion to Approve a Resolution Accepting a $6,250 Donation from Bank OZK for the Savannah Affordable Housing Solutions Fund
Recommend approval of a resolution to accept a $6,250.00 donation from Bank OZK for deposit into the Savannah Affordable Housing Solutions Fund (SAHSF) to address local workforce and affordable housing needs. None of the investments made into the SAHSF by Bank OZK and other investors are used for administrative costs. The City's Housing & Neighborhood Services Department and the nonprofit Community Housing Services Agency, Inc. (CHSA), oversee and administer the SAHSF.
This is the first year that Bank OZK has donated to the Savannah Affordable Housing Solutions Fund. Investments like this help the City of Savannah improve access to workforce housing. Officials from the Savannah Affordable Housing Solutions Fund Advisory Committee and the Community Housing Services Agency will also be participating in the presentation.
Over the last seven years, the locally controlled public and private investments into the Savannah Affordable Housing Solutions Fund have helped to leverage additional resources into our community. This Public/Private Partnership serves as an exemplary model for other financial institutions in Savannah. Since 2012, the Savannah Affordable Housing Solutions Fund has provided $13.9 million of assistance to local families seeking to fulfill the American dream of owning and maintaining a home. A motion to formally accept this donation appears in the resolution section of the agenda.
Martin Fretty, Director of Housing & Neighborhood Services
$6,250 Donation to the Savannah Affordable Housing Solutions Fund
Exhibit 1: Resolution 2019 Bank OZK Donation.pdf